In thinking about the movement of countries, such as China, India, or Brazil, from developing to emerging economies, it seems reasonable to characterize the process of economic transition as ________.
A method of comparing purchasing power between two countries that have different currencies
Selling government-owned assets to private firms in order to embrace free market systems
A process by which a nation changes its fundamental economic organization and creates free market institutions
A period where some parts of a country use advanced technology while other regions have outdated technology